Southwest Boston Community Development Corporation and Affiliates

Nonprofit profile at a glance

EIN
043562853
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Hyde Park, MA, USA
Phone
6173647300
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$1,897,744
Expenses
$2,687,746
Assets
$21,448,896
Liabilities
$23,642,175

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • ELLEN CARACCIOLO (PRESIDENT AND TREASURER)
  • DIANA KELLY (VICE PRESIDENT)
  • JEANNE DUBOIS (EXECUTIVE DIRECTOR (UNTIL 6/2024))
  • MARY CELESTE BROWN (INTERIM EXECUTIVE DIRECTOR (AS OF 6/2024))

Highest reported compensation

  • MARY CELESTE BROWN (INTERIM EXECUTIVE DIRECTOR (AS OF 6/2024)): $53,819 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The southwest boston community development corporation is led by principles of racial equity and inclusion, to alleviate social and economic disparities that impact people's quality of life and future opportunities. It shall be led by and for residents of the hyde park, roslindale, mattapan, dorchester and west roxbury. We will develop and preserve housing for low and moderate-income people; prevent displacement of neighborhood residents, particularly elders and those of limited means; and strengthen the commercial base of the neighborhood. We will work to create vibrant, stable and healthy neighborhoods, through community organizing and programs focused on housing and economic development, environmental justice, and residential health and the arts that bring long-time residents and newcomers of all ages and diverse backgrounds together.

What it reported doing in 2024

Real estate developmentswbcdc develops affordable housing for low to moderate income families in the boston neighborhoods of hyde park and roslindale, in order to help sustain and preserve neighborhoods and address the ongoing housing crisis in boston. The organization has a portfolio of 95 affordable units across both neighborhoods. The cdc owns 8 townhomes in roslindale that were acquired and preserved as affordable in 2016 through the city of boston dnd acquisition and opportunity program. In 2018 the cdc completed construction on 27-units of co-developed transit oriented apartments on fairmount ave in hyde park. In 2019-2020, the cdc acquired 4 properties in hyde park, totalling 34 more units of low to moderate income housing. In 2022, the cdc acquired 3 more properties in hyde park and roslindale, totaling a further 21 unts. Six of these units are leased to familyaid for use as transitional housing for previously unhoused families. The cdc has aggressively grown its real estate.the cdc is currently in the pre-development phase of a refinancing project for 8 of our 9 properties. This refinancing will protect the affordability of these properties, pay for updating of the buildings and decrease the carbon use in their systems through longer-term, low-cost financing.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: $4.45 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -41.6%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 7.98; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1.1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 25.9% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 18.2% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 27.8% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $54K · 15 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.